Mixed Q1 messages from Axiata

Modest revenue and EBITDA growth, "limited impact" so far from COVID-19, some pesky forex losses, and the withdrawal of 2020 "headline KPIs" because of pandemic-induced uncertainty.

These were some of the main takeaways from Q1 results presented by Axiata, a Malaysian telecoms group which – aside from Celcom on its home turf – has mobile operations in Bangladesh, Cambodia, Indonesia, Nepal and Sri Lanka.

Reported Group revenue was up 1.5%, year-on-year, to a shade over six billion Malaysian ringgit (US$1.4 billion). EBITDA rose 3.4% over the same period, to MYR2.5 billion ($573 million).

Apart from Indonesia and Cambodia, Axiata said COVID-19 only started to make an impact on its markets during the second half of March when strict lockdown measures came into play. It suggests that Q2 will be a bumpier ride in terms of sales.